RealEstateFlux

KBS Unloads San Diego Office Portfolio

KBS Realty Advisors have locked in a $28 million profit on their sale of the 232,035 SF Paseo Del Mar office complex in San Diego. Timing of the disposition is interesting, given that KBS should be flush with capital given their recent capital raising success. (See Real Estate Flux, June 30, 2008). This timing may [...]

Continue reading...

KBS Capital Closes $2B Nontraded REIT

Source: Globe St. KBS Capital Advisors has closed its first nontraded REIT, called KBS REIT, after raising $1.67 billion from 42,000 investors and acquiring more than $2.1 billion in assets, reports Globe St. As of June 18, KBS had used the proceeds of the offering to acquire $1.65 billion in commercial real estate–comprising 61 properties–totaling more [...]

Continue reading...